Capita Symonds Ltd posted a sharp increase in profits in 2009 despite a slight decline in turnover.
Documents filed with Companies House last week reveal that pre-tax profit for the year ended 31 December 2009 jumped almost 30% to £22.7m, up from £17.2m for the same period in 2008. Turnover at the multidisciplinary consultancy slipped to £201.2m from £204.8m.
A spokesperson for Capita Symonds added that when the group’s regional partnerships with local authorities and other entities were taken into consideration, overall turnover was £272.7m, yielding a pre-tax profit of £26.5m.
UK turnover, which accounts for most of the group’s business, fell £4m to £190.3m. Meanwhile, international turnover increased slightly to £10.8m, from £10.4m in 2008.
Capita Symonds opened an office in Abu Dhabi last year to increase its overseas presence and this week the group also announced the formation of Capita Symonds Saudi Arabia, a joint venture company with Saudi Arabian conglomerate Ghassan Holding Group, a privately held business owned by gold tycoon Sheikh Ghassan al Nemer.